Dubai-based developer Omniyat and construction firm Drake & Scull International (DSI) have partnered to launch a new residential property project in Palm Jumeirah, they announced on Sunday.
Called ‘One at Palm Jumeirah’, the luxury project will be jointly developed by both companies and will be managed by Omniyat.
The luxury residential building will be designed by architects Soma from New York, Super Potato from Japan and Vladimir from Lebanon, the companies said in a statement.
It will offer 360-degree views of the area, with apartment sizes ranging from 2,500 to 20,000 square feet.
Mahdi Amjad, executive chairman and CEO of Omniyat, said: “The finishing will be handled by famed interior designers. The combined expertise of these world-class firms is guaranteed to create a unique, high-end extraordinary development.”
The enabling works are due to commence within the next two months, the statement said.
More details about the project will be revealed at the upcoming property exhibition Cityscape Global 2014 in Dubai.
Amjad said: “Omniyat is very excited about developing this magnificent, super-luxury real estate project situated at the entrance of The Palm Jumeirah.
“We believe this plot is the perfect location to build such an iconic development that will be a global collaboration with inputs from Dubai, Japan, New York and Lebanon. It will definitely stand out on the Dubai skyline.”
Khaldoun Al Tabari, CEO and vice-chairman of DSI added: “Our 48 years’ expertise with high rise tower projects around the world will prove vital to delivering a project worthy of this prestigious location.”
Developers across Dubai have been launching a spate of new projects in recent months to cash in on the booming property market.
Last week, state-owned Nakheel announced that it is building a 12-storey residential complex with 130 apartments for lease in Palm Jumeirah. Construction is expected to begin before the end of 2014, with completion anticipated for mid-2016, the developer said.
Earlier this month, developer Damac also launched a mega golf-centred project, AKOYA Oxygen, in the emirate.
Located in Dubailand, the new development is spread across 55 million sq ft and will include residential, retail and hospitality projects including a five star hotel and a luxury wellness centre.
The first release of houses at the development sold out on the first day of the launch, and Damac plans to release the second set of units for sale this week.